According to the ‘Current Macroeconomic and Financial Situation of Nepal,’ the consumer inflation rate in fiscal year 2020/21 stood at 3.6 percent.
The report was released by the Nepal Rastra Bank (NRB) on Thursday.
The inflation rate has dropped by 2.55 percent from the 6.15 percent in FY 2019/20. This is probably the lowest annual average price rise in the last two decades.
The improvement in inflation rate last fiscal is mainly attributed to the uptick in prices of edible oils, pulses, and legumes.
Y-o-Y rise of consumer prices of some products are:
Product
Rise in annual consumer price
Ghee and Oil
17.54%
Pulses and Legumes
10.65%
Tobacco Products
9.83%
Transportation sub-groups
6.41%
As per NRB, the rise in edible oil prices is mainly due to the increase in price of raw materials in the international market.
The Himalayan nation imports almost all the oilseeds to meet the demand of its domestic markets.
Likewise, the inflation rate of non-food and services stood at 2.51 percent in FY 2020/21, down from 4.61 percent in FY 2019/20.
Inflation rate in various regions are as follows:
Regions
FY 2020/21
FY 2019/20
Kathmandu Valley
3.33%
6.96%
Terai
3.68%
6.29%
Hill region
3.87%
5.10%
Mountain region
2.87%
4.91%
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